Rajesh Exports, one of the largest jewelry manufacturers in India has bagged an export order for diamond studded and gold jewelry and medallions from the UAE. The order amounts to a whopping $13 bn or Rs 1360 crore.
This has set the share prices for Rajesh Export stocks soaring in the stock market with the prices increasing by 2%. A few months ago, the company also won an export order from Singapore for gold and diamond studded jewelry. This order amounted to Rs 1123 crore.
The order is to be completed by 31st of January of 2016. Rajesh exports plans to complete this order at their manufacturing unit situated in Bengaluru. This unit sprawls across 12 acres of land and has a capacity to process around 250 tonnes of gold into jewelry.
And earlier in July, Rajesh Exports had acquired Swiss-based gold refinery Valcambi for an all cash deal of USD 400 million. This deal will allow the company to venture into European and North American markets. This presents a prospective opportunity for the company to expand and diversify into international markets.
To achieve a stable share in International markets, Rajesh Exports has created a dedicated series of designs to lure local consumers in such international markets. Rajesh Exports also sells jewelry under the brand Shubh Jewellers and has 83 showrooms across the country.
The current market for the company amounts to Rs 19126.58 crore.
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